Quality Policy
Our quality policy is to provide best valve industry services that meet our customers expectations. We are committed to continuous improvement and to making changes to our processes and services to meet changing customer needs and expectations.
Our employees are integral to our quality efforts, and we are committed to providing the necessary resources and training to support their contributions to quality of our services.
We are also committed to complying with all relevant regulations and standards, and to continuously monitoring and improving our compliance efforts.
Our goal is to be a trusted partner to our customers, delivering high-quality services, and to be a source of pride for our employees, who are integral to our success.
Culture and Ethics
Our culture and ethics policy is grounded in our core values of integrity, respect, and accountability. We expect our employees to act with honesty, fairness, and in compliance with the law, in all aspects of their work.
Our code of conduct provides clear guidelines for ethical behavior, and we take personal responsibility and accountability for our actions.
We are committed to providing training and resources to help our employees understand and follow our culture and ethics policy, and to creating a work environment that fosters ethical behavior and respect for all employees.
Compliance with Laws, Rules and Regulations
It is the Company’s policy to be a good “corporate citizen.” Wherever we do business, employees and directors of the Company are required to comply with all applicable laws, rules and regulations. Employees are also responsible for honouring and abiding by the contracts that we have entered into with other parties, confidentiality agreements, contracts with our customers and suppliers, and other commitments we may have with government authorities.
The standards in this policy must of course be interpreted in the context of applicable law and practice of the countries where we operate, as well as good common sense. Any suspected or actual violation of any applicable law, rule or regulation or our contractual obligations or undertakings should be reported immediately to the General Counsel.
Conflicts of Interest
A conflict of interest occurs whenever our personal interests interfere in any way with our ability to perform our jobs objectively and in the best interests of the Company and its stockholders. In order for the Company to carry out its business effectively, it must be assured of its employees’ undivided loyalty.
Employees must therefore refrain from entering into relationships or transactions that might impair their judgment as to what is best for the Company and its stockholders. Even relationships that create the appearance of a conflict of interest should be avoided. We cannot circumvent these ethical standards by acting through someone else, such as a friend or family member (which includes our spouse, domestic partner, children, parents, in-laws, and siblings).
Any employee who is presented with a transaction or relationship which could create a conflict of interest must bring the transaction or relationship to the attention of the General Counsel and provide a full written disclosure of the circumstances surrounding the conflict.
There are many different ways in which conflicts of interest arise. For example, personal financial interests, obligations to another company or governmental entity, or the desire to help a relative or friend are all factors that might divide our loyalties. To clarify what we mean, we have set out below our policies about the most common types of conflict of interest.
Outside Employment and Directorships
No director or employee of the Company may work for, or receive compensation from, any competitor, customer, distributor, broker or supplier without the approval of the General Counsel, and the Chief Executive Officer. In addition, no employee may serve on the board of directors of another company or of a governmental agency without the advance approval of the General Counsel and the Chief Executive Officer; if the other company is a public company, then the approval of the Audit Committee of the Board of Directors is also required. Even where approval is granted, employees must take appropriate steps to separate Company and non-Company activities. The General Counsel will assist us in determining what steps are appropriate. Directors who are not employees will notify the Chief Executive Officer and the General Counsel prior to beginning service on the board of directors of another company or with a governmental agency.
Using Company Time and Property for Personal Benefit
No employee of the Company, nor any of its officers, may perform non-Company work, or solicit such work, on the Company’s premises or while working on the Company’s time for his or her own personal benefit. Also, no such employee may use Company property (including equipment, telephones, materials, resources or proprietary information) for his or her own commercial gain or endeavor. No such employee may engage in any type of solicitation or distribution activities unrelated to the Company’s business on the Company’s premises without the approval of his or her immediate supervisor.
Gifts and Entertainment
The acceptance of gifts and entertainment by employees and directors or members of their family may present a conflict of interest. While employees and directors are permitted to accept gifts of nominal value, they are prohibited from accepting anything that might influence their judgment on Company matters affecting the donor or that might be accompanied by any express or implied understanding that the recipient is in any way obligated to take some action which would benefit the donor to the detriment of the Company in exchange for the gift. Similarly, employees may accept entertainment, but only insofar as it is reasonable in the context of the business at hand and facilitates the Company’s interests. When practical and appropriate, hospitality should be reciprocated. Employees are strictly prohibited from soliciting gifts, gratuities or business courtesies for the benefit of any family member or friend.
Corporate Opportunities
No employee of the Company, including its officers and directors, may pursue or undertake, for his or her own personal benefit or for the benefit of any other person or organization, any business venture, opportunity or potential opportunity which is in the Company’s line of business without first obtaining the Company’s consent. Employees, officers and directors of the Company owe a duty to the Company to advance its legitimate interests when the opportunity to do so arises. It is never permissible for employees to compete against the Company.
Public Service
We encourage our employees to be active in the civic life of their communities, including charitable or educational activities. When doing so and making any public communication, we should make certain that others understand that any opinions or comments that we may express are our own and not the Company’s. Our participation in or service to the community may also at times place us in situations which conflict with the interests of the Company. This could occur, for example, where the community service organization is engaged in negotiations with the Company for goods or services or for some other matter. The law may require or permit us to abstain from any decision where these circumstances exist, depending on our position within the Company, or the community service organization, and perhaps for other reasons. Before participating in such a decision, we should seek advice from legal counsel for the community organization and from the Company’s General Counsel and we should in any event make it clear to the appropriate persons at the community organization that we are employees of the Company. If we do abstain, we should make it clear that our action is to avoid a potential conflict of interest or the appearance of one.
Confidential Information
Information is a valuable corporate asset. All employees and directors have an obligation to safeguard confidential information about the Company and confidential information that our suppliers and customers have entrusted to us. Generally speaking, confidential information is information that has not been disclosed to the general public or that gives our business an advantage over our competitors or could expose us to harm or liability if released prematurely or inappropriately. For a more detailed explanation of the definition of “confidential information” and the proper treatment of such information, please see the Company’s Policy and Procedure on Confidential Information. Employees and directors who are unsure about whether information should be treated as confidential must consult with their immediate supervisor or the General Counsel.
Employees and directors must remain conscious at all times of their obligation to protect confidential information against unauthorized disclosure. In no event should confidential information be disclosed to third parties in violation of the Company’s Policy and Procedure on Confidential Information. This is an obligation not limited to the duration of employment or service; the obligation continues after an employee or director leaves the Company.
Protection and Use of Company Assets
Safeguarding the Company’s assets and the assets of others entrusted to the Company is the responsibility of all employees and directors. Theft, carelessness and waste have a direct impact on the Company’s profitability. We should use such assets efficiently and maintain such assets with care and respect, while guarding against waste and abuse. Look for opportunities to improve performance while reducing costs. The use of Company time, materials, assets, or facilities for purposes unrelated to the Company’s business, or the removal or borrowing of Company property, is prohibited, except where such use or removal is for purposes of supporting the occasional community service activity which has been endorsed by the Company and where such use or removal has been approved by our supervisor. For these purposes, the Company’s assets include cash, inventory, equipment, computer software, computer data, vehicles, records or reports, non-public information, intellectual property or other sensitive information or materials and telephone, and voice-mail or e-mail communications.
Use Hierarchical Reporting First
When you have any question or concern about a legal or ethical standard, or any conduct which may violate the company Policy, you are encouraged to raise the matter first with your line management. You may also get help or advice from your Human Resource Director or your Human Resource representative.
If you are not satisfied with the response of your line management, your Human Resource Director, Human Resource representative, or if you believe it would be futile to raise your concerns with those employees, then you can contact CEO.
Reporting concerns which fall within a restricted scope
You may reach to report concerns which you, in good faith, believe may fall within the scope of one of the following matters:
– Diversity, equal opportunity and respect in the workplace
– Conflicts of interest
– Compliance with laws, rules and regulations and fair dealing
– Accurate books and records
– Environmental, health & safety
– Misuse or misappropriation of assets